HMV saved from closure by £50m rescue deal with Hilco

Plan to save stricken music chain, backed by entertainment industry, could save 2,500 jobs

A man walks past a building housing a HMV store in Hong Kong on January 17, 2013. Iconic British music retailer HMV is fighting for survival after slumping into administration, but its boss e
(Image credit: 2013 AFP)

EMBATTLED music chain HMV has been bought by restructuring firm Hilco in a deal thought to be worth £50m, reports Sky News.

The firm acquired 141 stores and from the business, which collapsed in January, including 25 marked for closure by administrators Deloitte. The deal will safeguard around 2,500 jobs at the 92-year-old retailer.

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